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    Armenia's gross international reserves hit $1.3 billion Aug.1

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    YEREVAN, September 13 (RIA Novosti) - Armenia's gross international reserves have risen 18.5% since early 2007 to $1.27 billion as of August 1, the country's Central Bank said.

    The country's convertible currency assets reached $1.264 billion and special drawing rights (SDR) amounted to $6 million, with zero gold reserves.

    Under the republic's monetary management policy for 2007 the Central Bank's gross international reserves, excluding privatization earnings, should reach $1 billion in late 2007.

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